General Electric (NYSE:GE) was downgraded by equities researchers at Bank of America from a “buy” rating to a “neutral” rating in a report released on Monday.
Other equities research analysts also recently issued reports about the stock. Vetr downgraded shares of General Electric from a “hold” rating to a “sell” rating and set a $23.72 price target for the company. in a research note on Monday, September 25th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $30.00 price target (down from $33.00) on shares of General Electric in a research note on Thursday, October 5th. Morgan Stanley decreased their price target on shares of General Electric from $26.00 to $25.00 and set an “equal weight” rating for the company in a research note on Monday, October 2nd. Deutsche Bank set a $21.00 price target on shares of General Electric and gave the company a “sell” rating in a research note on Monday, October 23rd. Finally, UBS Group downgraded shares of General Electric from a “buy” rating to a “neutral” rating and decreased their price target for the company from $31.00 to $24.00 in a research note on Monday, October 23rd. Six equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $22.94.
General Electric (NYSE GE) opened at $16.26 on Monday. General Electric has a 52 week low of $16.02 and a 52 week high of $30.90. The firm has a market cap of $141,010.00, a price-to-earnings ratio of 18.91, a P/E/G ratio of 3.01 and a beta of 1.07. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.53 and a current ratio of 1.86.
General Electric (NYSE:GE) last announced its earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.20). General Electric had a return on equity of 13.72% and a net margin of 6.08%. The firm had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $32.51 billion. During the same period in the prior year, the business earned $0.32 EPS. General Electric’s quarterly revenue was up 11.5% on a year-over-year basis. analysts expect that General Electric will post 1.05 EPS for the current fiscal year.
In other General Electric news, Director Steven M. Mollenkopf bought 5,500 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was bought at an average cost of $18.24 per share, with a total value of $100,320.00. Following the completion of the transaction, the director now directly owns 5,500 shares in the company, valued at approximately $100,320. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Francisco Dsouza purchased 55,000 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The shares were purchased at an average price of $17.94 per share, for a total transaction of $986,700.00. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 120,500 shares of company stock valued at $2,183,220. 0.36% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC boosted its holdings in General Electric by 2.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 234,390 shares of the conglomerate’s stock worth $4,090,000 after purchasing an additional 5,288 shares during the last quarter. TRUE Private Wealth Advisors boosted its holdings in General Electric by 47.0% during the fourth quarter. TRUE Private Wealth Advisors now owns 27,223 shares of the conglomerate’s stock worth $477,000 after purchasing an additional 8,708 shares during the last quarter. Moller Financial Services boosted its holdings in General Electric by 20.4% during the fourth quarter. Moller Financial Services now owns 36,544 shares of the conglomerate’s stock worth $638,000 after purchasing an additional 6,192 shares during the last quarter. Bridge Creek Capital Management LLC boosted its holdings in General Electric by 13.4% during the fourth quarter. Bridge Creek Capital Management LLC now owns 170,849 shares of the conglomerate’s stock worth $2,981,000 after purchasing an additional 20,230 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in General Electric by 1,802.3% during the fourth quarter. State of Alaska Department of Revenue now owns 785,801 shares of the conglomerate’s stock worth $13,711,000 after purchasing an additional 744,493 shares during the last quarter. Institutional investors and hedge funds own 55.62% of the company’s stock.
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About General Electric
General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.
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